TORONTO, Nov. 19, 2025 (GLOBE NEWSWIRE) — Clip Money Inc. (TSX-V:CLIP) (“Clip Money” or “Company“), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce its financial results for the three and nine months ended September 30, 2025. The Company reported continued revenue growth in the third quarter of 2025, increasing 175% compared to the third quarter of 2024, while cost of revenue increased only 55% over the same period, maintaining the Company's high operating leverage.
Key indicators for the third quarter of fiscal 2025:
- Revenue for the third quarter of 2025 (“Q3 2025“”) was $1,435,501 compared to $521,316 in the third quarter of 2024 (“Q3 2024“), which corresponds to an increase of 175% compared to last year (“y/yCore revenues in the third quarter of 2025 (excluding one-time revenue) increased 26% compared to the prior quarter (“quarter to quarter“) compared to the second quarter of 2025 (“2nd quarter 2025“), which was a function of new sales growth, existing customer penetration and new product growth.
- Revenue growth continues to outpace changes in cost of revenue (“KoRQ3 2025 sales value of $1,301,817 increased 55% YoY compared to revenue growth of 175% YoY.
- The year-on-year revenue growth for the third quarter of 2025 was driven by a 157% increase in new deposit users and supported by deposits from new products, namely change order revenue. New product revenue, excluding one-time items, accounted for 12% of total revenue in the third quarter of 2025 and 8% of total revenue in the third quarter of 2024.
- Operating expenses in the third quarter of 2025 were $1,987,589 compared to $1,597,181 in the third quarter of 2024, representing an increase of 24% year over year. Operating expenses in the third quarter of 2025 were 16% higher quarter-on-quarter compared to the second quarter of 2025. However, this was due to higher operating expense accruals. Excluding operating expense accruals, expenses decreased by 3% QoQ.
- Consolidated loss for the third quarter of 2025 was $2,764,599 compared to $2,318,179 for the third quarter of 2024, representing an increase of 19% year-over-year. However, the majority of the increase was due to non-cash changes in the fair value of the Company's derivative liabilities, which accounted for 14% of the increase. Excluding this change, growth was 5% YoY.
Main characteristics of the network and clients:
- Network expansion
- Clip Money has continued to expand its business deposit network in the United States. As previously announced, Clip launched ClipCenter in the second quarter of 2025 in more than 4,000 major retail locations and invited our customers to take advantage of this new deposit option in the third quarter of 2025. ClipCenter, together with ClipDrop and ClipATM, demonstrates the power of Clip's omnichannel deposit network, offering businesses both convenient self-service options through ClipDrop and ClipATM, as well as a full range of in-person services through ClipCenter. Compared to leading U.S. financial institutions, Clip has become the largest non-bank business cash deposit network in the U.S., with more than 8,100 deposit locations.
- Clip's multi-channel network provides an opportunity for businesses and financial institutions looking for alternatives to a more convenient and efficient way to deposit everyday funds. Several existing Clip customers have successfully migrated their retail stores to use all three of Clip's deposit channels, in addition to ClipChange ordering from the platform, demonstrating the versatility of the Clip network.
- Customer growth
- Organic growth resulted in the addition of 1,110 new user locations in the third quarter of 2025. The growth was driven by new retail brands and the expansion of existing customers who can now use the entire Clip network.
- Clarenational fashion apparel and accessories retailer, joined the Clip network at approximately 780 locations this quarter. These locations are stored in ClipDrop, ClipCenter and ClipATM, allowing for bank account consolidation and efficiency in back office processes.
- In addition to this growth, ClipChange saw orders increase 19% in Q3 2025 compared to Q2 2025. Meeting the daily needs of bills and cash for change on retail purchases goes hand in hand with deposits, and Clip clients recognize the value of a holistic cash management strategy.
“In the third quarter, we began acquiring customers across our entire Clip Network, marking a major milestone in our growth. Claire's alone had nearly 800 stores onboarded using all three of our deposit channels – ClipDrop, ClipATM and ClipCenter, as well as our change order delivery product ClipChange. Overall, we added more than 1,100 new customer locations during the quarter, achieving record growth rates, and began to market our platform more broadly to potential partners channel, where we are seeing meaningful engagement across the ecosystem. We also continue to demonstrate strong revenue growth year over year, with revenue growing faster than our cost of revenue, a clear indication of the scalability and operating leverage in our business model.”
Joseph Arrage (CEO and co-founder)
Additional information
The Company's interim condensed consolidated financial statements, notes to the financial statements and management's discussion and analysis for the three and nine months ended September 30, 2025 are available under the Company's SEDAR+ profile at www.sedarplus.ca. Unless otherwise noted, all references to “$” in this press release refer to U.S. dollars.
Forward-Looking Statements
This press release may contain forward-looking statements (within the meaning of applicable securities laws) that reflect the Company's current expectations regarding future events. Forward-looking statements are identified by words such as “believe,” “expect,” “project,” “anticipate,” “intend,” “plan,” “will,” “may,” “estimate” and other similar expressions. These statements are based on the Company's expectations, estimates, projections and projections and include, without limitation, statements regarding the future success of the Company's business.
The forward-looking statements in this press release are based on certain assumptions. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Therefore, readers should not place undue reliance on such forward-looking statements. Further, these forward-looking statements are made as of the date of this press release and, except as expressly required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
About Clip Money Inc.
Clip operates a multi-bank self-service deposit system for businesses through the Clip Money network, which gives users the ability to make deposits outside of their bank's branches at leading retailers and shopping centres. Instead of going to their personal bank branch or using a cash advance service, businesses can deposit their cash at any ClipDrop Box, ClipATM or ClipCenter located near them. Once deposited, funds will be automatically deposited into the company's bank account, usually within one business day. The company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for bank deposits in major statistical regions in Canada and the United States. For more information about the Company, visit www.clipmoney.com.
For more information contact:
Joseph Arrage
Director of the company
tel: 844-593-2547
